The following data were taken from the SFP accounts of Bridgeport Corporation on December 31, 2020:

Current assets		$	1,078,000
FV-NI investments			810,000
Common shares (unlimited authorized, 590,000 shares issued and outstanding)			6,490,000
Contributed surplus			330,000
Retained earnings			1,860,000

A 8% stock dividend is declared at their fair value and distributed at a time when the shares fair value is $41 per share. Prepare the required journal entries

a. (To record stock dividend declaration)

b. (To record stock dividend distribution)

2. A 4-for-1 stock split is effected. Prepare the required journal entry

3. A dividend in kind is declared on January 8, 2021 and paid on January 28, 2021 in FV-NI investments. The investments have a carrying amount of $160,000 (fair value at December 31, 2020) and a January 8 fair value of $164,000. Prepare the required journal entries

Jan 8.

(To record fair value adjustment)

Jan 8

(To record declaration of property dividend)

jan 28